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A Climate Change Introduction:
 
The International Frameworks and the Carbon Markets
CINCS
 
®
 
 
561 Broadway, Suite 6A
 
 
New York, NY 10012
1
 
tel: +1.212.925.8106 fax: +1.212.226.1625 www.CINCS.com
A Climate Change Introduction:
The International Framework and the Carbon Markets
May 2008
The world is showing increasing concern about the threat of global warming,substantiated by over a decade of scientific examination. The state of theenvironment and the consequences of climate change increasingly drivepolicy, impact consumer behavior, underlie shareholder actions, and informcorporate decisions. This document is put forth by CINCS, LLC. CINCS is atechnology services company focused on global monitoring, accounting andverification systems for emerging environmental markets. CINCS providesgeo-spatial technology solutions for carbon accounting and environmentalmonitoring.
This document is Copyright of CINCS
 ® 
, LLC, 2008, and contains data and opinions compiled by CINCS. CINCS is not liable forinformation or data herein that changes daily with market trends or the study of climate change.
 
 
Part 1
A climate change science, policy,law and economics background
CINCS 561 Broadway Suite 6A
.
New York, NY 10012
.
+1.212.925.8106 
.
 
 
 
1.1
What is global warming? 
Over the last 10,000 years, Earth’s thermostat has been set to an average surfacetemperature of around 57°F. However, Earth’s average planetary temperature has beenrising; an effect called global warming. This is attributed to the trapping of the sun’s rays insideEarth’s atmosphere due to a build up of “greenhouse gases”. Greenhouse gases such ascarbon dioxide (CO
2
), methane (CH
4
), nitrous oxides (NOx), and sulfuric oxides (SOx) form apervious blanket around the Earth reaching a distance of 100km (60 miles) from its surface.These gases, particularly CO
2
, play a critical role in maintaining the complex and delicatebalance of Earth’s thermostat and in sustaining life throughout our history. They aid the planetin maintaining a homeostatic surface climate by keeping a portion of the sun’s rays close tothe Earth rather than allowing them all to escape. Greenhouse gases are a waste product ofthe fossil fuels that almost every person on the planet uses for heat, transport, and otherenergy requirements. These uses are rapidly increasing the proportion of greenhouse gasesin the atmosphere.
i
As these concentrations increase and exceed Earth’s ability to control itwithin bounds, the amount of solar radiation and warmth kept close to the Earth, and hencetemperature, also increases.
1.2
What are the effects of global warming? 
The subsequent effects of global warming on earth’s climate habitability include atmosphericand ocean temperature rises which hinder migratory patterns of fish and mammals, raise sealevel to affect coastal development, and put pressure on the thermohaline circulation (
Fig. 1
)that carries warm water from equatorial regions to the northern and southern latitudes. Theinfluence of these forces will cause the Earth, in an attempt to stabilize conditions tolerable tolife, to react in drastic shifts that can drive entire habitats from one end of a continent toanother, cause species extinctions and threaten the biodiversity and ecosystem of the planet.
ii
 These shifts have already caused floods and droughts in certain regions, which have leftpeople starving and malnourished. Thus global warming threatens all species connected toand dependent upon the planet. Climate change particularly impacts the lives of the poor asthey lack the resources the industrialized world has to deal with its ramifications.
Figure 1:
Solar Radiation and Generalized Model of Thermohaline Circulation; “Global Conveyor Belt”
iii
 
Scientists predict that global warming will initially expedite glacial melting and induceflooding in India, China and South America, cause spikes and then devastating declines incrop yields especially in Africa and deplete ocean and other ecosystems of homeostatic livingconditions. As global warming continues and even magnifies into a global temperature rise of3-5°C, these effects will strengthen and could include other threats such as complete flooding
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